HomeEconomyBiogen raises its full-year profit forecast for cost control Economy Biogen raises its full-year profit forecast for cost control By inew October 25, 2022 0 135 views Share FacebookTwitterPinterestWhatsApp BIIB +2.51% Add to Watchlist/Remove from Watchlist Add to watch list Add Location Job added successfully: Please enter the name of your portfolio type: purchase Sell date: ) quantity: price Point value: Leverage: 1:1 1: 1: 1: 1: 16 1: 15 1: 47 1: 54 1: 100 Committee: create new Watchlist Creation 339400 941867 Create New Holding Portfolio Add Create 100077 + Add another position to close 1000 ESALY 400-2.17% 75 Add to Watchl/Remove ist from Watchl ) Add to watch list Add Location Job added successfully: Please name your portfolio type: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: 16 1: 15 1: 27 1: 25 1: 51 1: 75 Committee: 6487 create new watchlist create 64876487 339 Create a new holding portfolio adding create 339 + add another position Close (Reuters) – Biogen Inc (NASDAQ: BIIB) on Tuesday raised its annual profit forecast for the second straight quarter due to costs fell by more than half while investors await more data on its new Alzheimer’s drug next month. Share price up 2% as costs and fees fall .3% to 1 Dollar. billion and the drugmaker is projected to have earnings per share of . and $. and the previously predicted $. to $.11. However, the focus of investors and Wall Street analysts is entirely on Biogen and E isai Co ( OTC: 339ESALY) Ltd’s new drug lecanemab slowed the progression of the disease % in last month’s trial. Data for the drug has been promising, with Biogen and Eisai leading the partnership, expected to file soon U.S. approval, with a decision expected in January. As Biogen faces multiple setbacks, including competition for blockbuster drug Tecfidera, which has seen declining sales, investors I have been pinning my hopes on this drug % to $32 million. As Biogen slashed the rollout of its early-stage Alzheimer’s drug Aduhelm, expectations have risen. Controversially approved by the U.S. Food and Drug Administration on the advice of its experts. Third-quarter revenue fell 9.7% to $2. billion dollars, hurt by a cheaper alternative to its blockbuster multiple sclerosis drug Tecfidera. Still, it beat the $2 estimate by Refinitiv. 11 billion. Excluding items, Biogen made $4. 14 per share, exceeding expectations of $4. . The drugmaker has not provided any update on its search for a new CEO since May, with Michel Vounatsos at the helm, until a replacement is found. Wedbush analyst Laura Chico said that despite the profit-beating forecast and an upward revision to forecasts, “key updates are still lacking for the company at this stage.” 75 Share FacebookTwitterPinterestWhatsApp Previous article'Call Me Kate' Production Suspended as Sean Hayes, Eric McCormack & More Remember Leslie Jordan After Sudden DeathNext articleGolden Knights' Kessel ties NHL streak record with 989 inewhttps://inew.news RELATED ARTICLES Economy EBRD Maintains Growth Forecast for Ukraine and Moldova in 2023-2024 September 28, 2023 Economy Bankman-Fried loses bid for release from jail during trial September 28, 2023 Economy Dollar retreats from 10-month high, heat still on yen, euro September 28, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Why Damian Lillard makes Bucks favorites to win NBA Finals I The Herd September 28, 2023 Cole cements Cy Young case, but still in awe of Judge’s bat September 28, 2023 Back To BlockShine ☀️ September 28, 2023 Bitcoin’s Hidden Threat? Miner Revenue Sent To Exchanges Surges Over 300% September 28, 2023 Load more Featured NEWS Cybersecurity startup Wiz considers potential bid for SentinelOne August 26, 2023 Evanna Lynch speaks out on JK Rowling's trans controversy, says author advocates for 'the most vulnerable members of society' February 25, 2023 Intel Announces Pricing and Availability of Arc A770 September 27, 2022 Watch Ghost of the Devil's Perch: Live Series Premiere, TV August 22, 2022 Load more
